I have never seen this before.
I think the explanation here is the same as in the stock market. Governments are printing horrible quantity of money in these days to save their a***.... They don't care the consequences . Only the present is important .
The upcoming US elections. The European union's problems. While they can cure it with money printing they will print. Sooner or later the bubble will pop and there will be a currency crisis.
The target price counted from the is minimum 1400$. As I'm watching silver's breakout the PM sector will not stop for a while. If we printed a DCL on the Brexit night we could rally for 4 more weeks.
A possible entry point could be the 10 tag at the 4 hrs chart. The same point could be a possibilty to exit the shorts.
These kind of breakouts are damn powerful. I don't know what will happen when commercials realize that they can't control the price and get out of gold's way. I wonder how the reports will look today.
And the dollar is not even falling... When the dollar starts to fall gold will go crazy....
Breakout from the flag
1) Negative interest rates are infectious and continue to spread all around the Globe.
2) Trillions of dollars of paper currency flooding the Market to artificially prop up the Market.
You can't fight the printing press!